With its fractional gain today, the S&P 500 Technology sector returned to its pre-Lehman bankruptcy levels for the first time.
Technology became the first of the ten S&P 500 sectors to recover all of its losses incurred after Lehman’s bankruptcy one year ago.
In fact, the performance by the tech sector far exceeds that of any other S&P sector, as each of the other 9 sectors are still posting double-digit declines during the same period.
Since Lehman Bankruptcy
Technology - Unch
Consumer Discretionary -10.15%
Consumer Staples -13.55%
Despite the sector's ability to hit the breakeven point, just 41% of the sector’s 76 stocks have managed to turn in gains since Lehman bankruptcy roiled the markets last September.
The largest cap tech stocks in the sector have been fairly mixed too during this time:
- Microsoft down 9%
- Apple up 24%
- IBM up 3%
- Google up 13%
- Cisco unchanged
- Intel down 3%
- Hewlett-Packard down 2%
- Oracle up 9%
- Qualcomm down 5%
- EMC up 20%
Tech Winners Since Lehman Bankruptcy:
Micron Technology 63.35%
Western Digital 53.05%
Cognizant Technology Solutions 42.75%
Red Hat 37.19%
Citrix Systems 29.85%
Tech Losers Since Lehman Bankruptcy:
Western Union -23.25%
MEMC Electronic Materials -45.34%
Electronic Arts -58.42%
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